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Priority One is now on Facebook!

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Credit Life Enhancements added to Priority One's Insurance Offering

On December 9, 2010, the credit insurance we offer your customers added several positive changes:


 1) The life insurance now includes dismemberment (or blindness) and terminal illness coverage.


  2) Coverage is available up to $75,000.


Meet our New Dealer Account Executive

Danielle Coscarelli - new shot

Danielle Coscarelli


Coscarelli joins the dealer account executive team and will be responsible for adding and managing new dealerships to Priority One's portfolio of business partners.  Danielle holds a business management degree from Saint Leo University, Dade City, Florida, and a Florida real estate license.  In her spare time, Danielle enjoys biking, beaching, shelling and singing.


Congratulations Don Arvin! 


Don Arvin  

2010 Dealer

 Award Winner


Don won the dealer's choice award again this year.  Way to go, Don!



New Specialty Finance Department

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 Priority One has created a new department, known as our specialty finance unit, that specializes in credit challenged customers.  The

business managers in this department work strictly on nonprime financing which ensures each deal is given every possible chance for an approval.

  Additionally, customers that have credit challenges may take advantage of our credit repair program that helps them rebuild their credit and return to your dealership when they are able to buy.


F&I Insider


January 2011



Compliance Check 



Keep Your Cool with 2011 Mandatory Government Compliancy Regulations


At the beginning of a new year, many of us have made resolutions to improve our quality of life, maybe by losing a few pounds, spending quality time with our families or reconnecting with long lost friends.   In a way, the government has made a resolution as well.  Government agencies have always had regulations in place to protect consumers and businesses against financial injustices, but starting in early January 2011, new regulations that affect your dealership will finally be enforced after multiple delays. 


The Federal Trade Commission (FTC) officially enforced the Red Flag Rule on January 1, 2011.  This rule is designed to help organizations detect, prevent and mitigate identity theft that may arise during the lending process.  Your dealership is required by law, to establish a formal, written identity theft detection program, requiring four mandatory elements:

1.    Identify relevant "Red Flags" relevant to the credit origination process.

2.    Detect and evaluate these "Red Flags" in connection with individual customer transactions.

3.    Respond to Red Flags you detect to prevent identity theft.

4.    Update your program periodically to reflect changes in risks to customers from your experiences and new identity theft activity.

As your business office, Priority One has created and implemented a Red Flag program to help protect your customer's identity and limit exposure to identity theft.  It is also your lawful responsibility to create a compliance program for your customer's and dealership's protection against identity theft as well. 

For additional information on the Red Flags Rule, check out or for more information on how Priority One helps keep your dealership compliant, contact Lorraine Mariotti, Vice President of Lending at


Also, on January 1, 2011, the Fair and Accurate Credit Transactions Act (FACT Act) will begin enforcing the Risk Based Pricing Rule (RBP).  The FACT Act allows consumers to request and obtain a free credit report once every twelve months from each of the three nationwide consumer credit reporting companies.  The addition of the RBP requires your dealership to provide any customer that receives a loan approval with a notice that helps the customer understand the impact that their credit score has on their ability to obtain a competitive interest rate.


On behalf of your dealership, Priority One will provide a Credit Score Disclosure Exception Notice (see example) in compliance with the FACT Act to all customers who receive a loan approval through your indirect lending relationships.  This form will be included in the closing package for you to give the customer at the time of closing.  For customers that receive a loan approval but do not choose to accept financing with one of your indirect lenders, this form will be mailed directly to the customer by Priority One.  If you have any questions on RBP, please call your dealer account executive at



Government regulations are constantly evolving but as your business partner, Priority One handles most of the work for you.  Now with all the time you saved sorting through these regulations, you'll have plenty of time to focus on your personal new year resolutions!







Your Sales Reps + P1 F&I = Additional $


As your business partner, when we work together, we have the potential to exceed all our goals.  Here are a couple ways that by working together we can blow last year's fourth quarter numbers out of the water.


Your sales representatives can "plant the seeds" about valuable service contracts when selling the unit to his customers early in the sales process.  This helps Priority One's business managers close the service contract sale and also sell after-market services like GAP insurance, credit life and disability.


Customers benefit by using visual selling tools.  For instance, dress your dealership up with posters and banners to show that you offer financing.  Have brochures for your products neatly displayed and within easy reach for your customers.  Place promotions near the cash register.  Post extended service contract specials in your dealership's service area and display the financing specials we email to you on your website.  Here is an ad that a dealer displayed on their website from an email Priority One sent out.  Every little bit helps sales and repeated exposure is key to getting the message across.



XYZ Dealer Ad 


Priority One Financial Services

742 Second Avenue South

St. Petersburg, Florida  33701


Selling is your priority, financing is ours.